Wheat rises as Sterling drops below DM3.00

By FWi staff

A COMBINATION of a weaker Pound and limited old-crop supplies yesterday sparked an increase in wheat prices.

Old-crop futures gained almost £1/ tonne as the Pound traded below DM3.00 against the Deutschmark. May contracts closed at £76.10/ tonne (May) and £78.10/ tonne (June).

New-crop contracts also gained, although by a lesser amount. The market closed up 60p for all months at £76.00/ tonne (September), £78.00/ tonne (November) and £80.00/ tonne (January 1999).

See more